UPDATE: Binance hacker begins swapping $46M in stolen SOL for Bitcoin via Relay Protocol
CIE News ·
Update to UPDATE: Binance hacker launders $25M through THORChain and borrows on Aave
Based on reporting by crypto.news; not yet independently confirmed.
Wallets linked to the $6.3B Binance hack transferred 486,970 SOL through Relay Protocol to convert into Bitcoin. The attacker controls 970,522 SOL valued at $95.9 million.
A wallet associated with the Binance security breach transferred 486,970 Solana (SOL), worth $46.4 million, through Relay Protocol on November 1 to begin swapping the assets into Bitcoin (BTC). The movement follows earlier automated exploit transfers that laundered $25 million in Binance-linked funds across decentralized finance protocols.
According to crypto.news, citing on-chain findings from Lookonchain, the attacker controls 970,522 SOL valued at approximately $95.9 million. The 486,970 SOL moved through Relay Protocol within a one-hour window represents about half of those holdings. Crypto.news noted that the final receiving Bitcoin addresses and settled amounts have not yet been confirmed.
The overall breach resulted in the loss of roughly $6.36 billion across multiple blockchains on October 29, according to TRM Labs, which attributed the exploit to the North Korean group TraderTraitor. The FBI also identified TraderTraitor as the group behind the attack.
Key facts
- 486,970 SOL transferred
- $46.4M moved to Relay Protocol
- 970,522 SOL held by attacker
- Swapping into Bitcoin
Read the original at crypto.news